Purpose of Audit

The purpose of our audit was to examine the District’s financial condition for the period July 1, 2012 through October 22, 2013.

Background

The Port Byron Central School District is located in the Village of Port Byron and the Towns of Mentz, Montezuma, Conquest, Throop and Brutus in Cayuga County and the Town of Savannah in Wayne County. The District, which is governed by an elected seven-member Board of Education, operates two schools with approximately 1,000 students. Budgeted appropriations for the 2013-14 fiscal year totaled approximately $20 million.

Key Findings

• District officials have generally taken appropriate action to manage the District’s financial condition.
• The Board appropriated fund balance from the 2008-09 through 2010-11 fiscal years but the fund balance actually increased by nearly $1.4 million.
• District officials have not created a detailed multiyear plan that projects future revenues and appropriations and clearly defines how reserve and unexpended funds should be managed.

Key Recommendations

• Develop budgets with realistic estimates of appropriated fund balance.
• Develop a detailed multiyear financial plan.